Gazprom to list on Asia’s second biggest stock market

Gazprom plans to become one of the first Russian companies to place shares on the Hong Kong Stock Exchange, according to Finance Director Andrey Kruglov.

“We’re working to sign an agreement with China in the near
future, then we’ll have no obstacles to enter China’s Stock
Exchange”, the finance head said on Thursday in an interview
with the Rossiya-24 television channel.

The plan for Gazprom to entering the Hong Kong stock exchange
will bring the financial markets of the two countries closer.
Trading on the stock exchange will allow prices to be regulated
by the market and the company could thus give discounts, the
Gazprom executive suggests. Prices and discounts are currently
regulated by the government. This will also help Gazprom attract
from half a billion to a billion dollars for the construction of
the Power of Siberia gas pipeline which is expected to deliver 3
trillion cubic meters of gas to China over 30 years.

In January 2010, Russian aluminum producer Rusal became the first
Russian company to list on the Hong Kong Stock Exchange raising
$2.6 billion in an IPO with a price of $10.8 per share.